Hotel Horizon Pvt Ltd insolvency resolution: Oberoi Realty and Naman Developers win bid for Rs 919 crore settlement
Real estate firms Oberoi Realty and Naman Developers, in partnership, along with JM Financial Properties, have secured the Committee of Creditors’ (CoC) approval to acquire Hotel Horizon Pvt Ltd (HHPL) through the insolvency resolution process.
As per updates consortium’s resolution plan, involving a total settlement of Rs 919 crore, was cleared by the CoC. This deal focuses on the hotel's land parcel spread over 1.85 acres in Juhu, Mumbai. This acquisition aligns with the Oberoi Realty and Naman Developers' strategy to expand in the luxury hospitality and mixed-use property market.
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